Global Steel Wire Rods Market Size & Outlook, 2023-2030
Global steel wire rods market, 2018-2030 (US$M)
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Global steel wire rods market highlights
- The global steel wire rods market generated a revenue of USD 161,856.7 million in 2022 and is expected to reach USD 230,921.5 million by 2030.
- The market is expected to grow at a CAGR (2023 - 2030) of 4.5% by 2030.
- In terms of segment, construction accounted for a revenue of USD 72,734.4 million in 2022.
- Industrial Manufacturing is the most lucrative application segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2022.
- Country-wise, Canada is expected to register the highest CAGR from 2023 to 2030.
Global data book summary
| Market revenue in 2022 | USD 161,856.7 million |
| Market revenue in 2030 | USD 230,921.5 million |
| Growth rate | 4.5% (CAGR from 2022 to 2030) |
| Largest segment | Construction |
| Fastest growing segment | Industrial Manufacturing |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Construction, Automotive, Industrial Manufacturing, Power & Energy |
Other key industry trends
- In terms of revenue, the North America accounted for 9.5% of the global steel wire rods market in 2022.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, Canada is the fastest growing regional market and is projected to reach USD 1,822.6 million by 2030.
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Steel Wire Rods Market Scope
Steel Wire Rods Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global steel wire rods market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to steel wire rods market will help companies and investors design strategic landscapes.
Construction was the largest segment with a revenue share of 44.94% in 2023. Horizon Databook has segmented the Global steel wire rods market based on construction, automotive, industrial manufacturing, power & energy covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Steel Wire Rods Application Outlook (Revenue, USD Million, 2018-2030)
- Construction
- Infrastrcture
- Industrial
- Automotive
- Industrial Manufacturing
- Power & Energy
- Others
- Residential
- Non-residential
- Oil & gas
- Chemicals and petrochemicals
- Automotive & transportion
- Mechanical engineering
- Power plant
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Horizon Databook provides a detailed overview of global-level data and insights on the Global steel wire rods market , including forecasts for subscribers. This global databook contains high-level insights into Global steel wire rods market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global steel wire rods market size, by regions, 2018-2030 (US$M)
Top 10 countries: Steel wire rods market size, 2022 (US$M)
Global steel wire rods market share, by application, 2022 & 2030 (%, US$M)
Steel wire rods market: Opportunity assessment by country
Global steel wire rods market, by region, 2023 (US$M)
| Application | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 8,559.5 | 8,815.9 | 9,002.9 | 14,044.4 | 15,371.6 | 15,036.4 | 15,115.9 | 15,314.9 | 15,618.5 | 16,658.2 | 17,859.8 | 19,243.6 | 21,147.0 | 4.1% |
| Europe | 14,798.0 | 14,975.8 | 16,633.4 | 24,713.4 | 25,623.0 | 24,126.7 | 24,201.7 | 24,550.9 | 25,213.7 | 26,747.0 | 28,579.8 | 30,917.6 | 33,710.6 | 3.5% |
| Asia Pacific | 60,948.1 | 65,813.4 | 74,951.3 | 105,330.2 | 107,817.6 | 100,496.1 | 102,900.9 | 105,945.7 | 110,045.1 | 119,586.1 | 130,849.2 | 143,820.1 | 159,609.7 | 5.0% |
| Latin America | 2,448.5 | 2,523.1 | 2,775.0 | 4,760.6 | 5,050.2 | 4,956.8 | 4,999.9 | 5,075.1 | 5,169.8 | 5,404.9 | 5,679.1 | 5,981.8 | 6,364.8 | 2.9% |
| MEA | 5,503.7 | 5,215.2 | 4,865.1 | 7,788.0 | 7,994.3 | 7,527.9 | 7,605.4 | 7,719.1 | 7,868.7 | 8,266.7 | 8,719.1 | 9,256.2 | 10,089.5 | 3.0% |
| Overall | 92,257.7 | 97,343.4 | 108,227.7 | 156,636.7 | 161,856.7 | 152,144.0 | 154,823.7 | 158,605.6 | 163,915.7 | 176,663.0 | 191,687.0 | 209,219.3 | 230,921.5 | 4.5% |
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